Lifeward Ltd. 8-K

What Happened

• Lifeward Ltd. announced on Feb 12, 2026 that it entered into a Subsequent Secured Promissory Note with Oramed Pharmaceuticals, Inc. The initial principal is $525,000 and may be increased by up to $975,000 (total possible principal $1.5 million). The note is secured by a lien on Lifeward’s cash, accrues interest at 24% per annum and matures on the earlier of August 12, 2026 or the Company’s failure to obtain shareholder approval for certain transactions tied to agreements dated January 12, 2026. The company also has an outstanding Initial Secured Promissory Note to Oramed Ltd. in the principal amount of $3.0 million.

Key Details

• Initial principal: $525,000; may increase by up to $975,000 (potential total $1.5M).
• Interest rate: 24% per annum. Maturity: earlier of August 12, 2026 or failure to obtain required shareholder approvals for related January 12, 2026 agreements.
• Security: lien on the Company’s cash; proceeds from collateral will be applied ratably to the Initial and Subsequent notes.
• Terms: contains customary covenants limiting additional indebtedness, liens, certain corporate changes and transactions with affiliates; customary default remedies (acceleration, increased interest, termination, other legal remedies).

Why It Matters

• This filing reports new short‑term, high‑interest secured debt that affects Lifeward’s near‑term obligations and liquidity. Because the note is secured by cash and pari‑passu (ratably applied) with an existing $3.0M secured note, Oramed has a prioritized claim on cash collateral. The maturity is tied to shareholder approvals for other transactions, so those approvals (or lack thereof) could accelerate the obligation. Investors should note the increased leverage, the 24% interest cost, and the potential impact on available cash.